We encourage our candidates to start researching all available financial options, saving and making the necessary plans to ensure that they have sufficient resources to finance the course as early as possible.
Financing your MFin is a major commitment, and an early application can help with securing financing, funding or bursaries. This is because many scholarships are awarded early in the year. You will need to have an MFin offer in place before you can apply for them.
The fees for the Master of Finance for 2023/24 are:
|
Fees (2023/24) |
|
|---|---|
|
Tuition fee |
£51,000 |
|
Estimated living expenses |
£17,668 |
|
Total |
£68,668 |
*We recommend that you should budget an additional £7,880 for a dependent adult and an additional £4,770 for each dependent child.
There is an application fee payable of £120.
Living expenses
We will ask you to demonstrate that you have funds to cover your accommodation costs and living expenses during your MFin (September to June). This cost is approximately £17,668.
View estimated accommodation costs for the various Colleges
Additional accommodation and living costs will apply if you decide to stay in Cambridge for the summer term (July and August)
You should also consider whether there are additional costs such as:
- Set-up costs like buying a laptop, a UK mobile phone, a bike etc
- Travel to and from Cambridge.
- Utility bills if you decide to live in private accommodation
Payment schedule and expenses
You must send us your tuition fee in three instalments. The first two instalments act as non-returnable deposits, with the third instalment paying off the remainder of the tuition fee. The table below outlines the fee payment schedule:
|
Fee payment schedule |
|
|---|---|
|
Instalment 1: The first instalment of fees is due within one month of receiving your conditional offer |
10 per cent of tuition fee |
|
Instalment 2: Due by 1 June or when your unconditional offer (also known as Confirmation of Enrolment) is made (whichever is the latest) |
20 per cent of tuition fee |
|
Final instalment (i.e. total fee minus instalments 1 and 2). Due by the beginning of September (following your receipt of our invoice) |
Remaining 70 per cent balance of tuition fees |
How students finance their Master of Finance
Below shows how the MFin class of 2022/23 funded the programme:
- Personal savings: 43%
- Family and friends savings: 38%
- Loans: 8.5%
- Employer sponsorship: 6.5%
- Scholarships: 4%
Scholarships
Various scholarships are available to Master of Finance students. These range from Cambridge Judge Business School bursaries and University of Cambridge and College scholarships to external funding.
If you need financial assistance with fees through scholarships, it’s essential to apply for the Cambridge MFin early.
In addition to the funding sources listed in this section, we advise you to explore all types of potential funding opportunities open to you. Consider employer sponsorship and loan and scholarship opportunities in your own country.
Cambridge Judge Business School scholarships
|
Scholarship |
Amount |
Eligibility |
Deadline |
|---|---|---|---|
|
MFin Programme Scholarships |
Varies each year but awards are usually from £5,000 to £15,000 |
All those who are offered a place on the programme may be considered. Awards are academic merit and needs based. |
Rolling until awarded. |
|
St Catharine’s College Benavitch Scholarship |
£10,000 |
All candidates with a first class degree or GPA over 3.7. |
February 2023 – exact date to be confirmed. |
|
The Central Bank Scholarship |
Varies but normally around 20% of the MFin tuition fee. The central bank will need to make a matching scholarship contribution |
Applicants must work at Central Banks or other ‘Official Sector’ organisations, and must return to their employer on completion of the MFin. This scholarship is intended mainly for emerging economy institutions. |
Rolling until awarded. |
|
The MFin Women in Finance Scholarship |
2 x £15,000 |
Outstanding female candidates with the equivalent of a UK first class degree. Candidates must demonstrate financial need and be nationals of and resident in an economically developing country. |
31 March 2023. Candidates must have an offer of place on the MFin by the scholarship deadline. |
|
The MFin Africa Scholarship |
£25,000 |
Candidates who are nationals of and resident in an African country. Candidates must have the equivalent of a UK first class degree, and demonstrate financial need. |
31 March 2023. Candidates must have an offer of place on the MFin by the scholarship deadline. |
|
The MFin Latin America Scholarship |
£25,000 |
Candidates who are nationals of and resident in a Latin American country. Candidates must have the equivalent of a UK first class degree, and demonstrate financial need |
31 March 2023. Candidates must have an offer of place on the MFin by the scholarship deadline. |
External scholarships
|
Scholarship |
Amount |
Eligibility |
Find out more |
|---|---|---|---|
|
British Council Scholarships |
Varies |
Candidates from approximately 160 countries are eligible to apply. |
|
|
British Marshall Scholarships |
Tuition fees, various living expenses, airfares to and from the US |
US citizens who are graduates of US universities and graduated with a GPA of 3.7 or above after April 2020. |
|
|
Cambridge Society Bombay Scholarships |
Up to Indian rupees 250,000 |
Candidates domiciled in the Indian states of Gujarat, Maharashtra and Goa who have secured admission at a college at the University of Cambridge for undergraduate, postgraduate or short duration courses. |
|
|
Chevening Scholarships |
Varies from part to full funding |
Applicants must be resident in their home country at the time of their application, and must return to that country on completion of the programme. |
|
|
Colfuturo Scholarship/Loan |
Up to US$50,000 |
Colombian citizens. |
|
|
The Fulbright Commission Postgraduate Award |
Tuition and maintenance |
Awards for US citizens to study in UK. |
|
|
General Sir Monash Awards |
AU$70,000 |
Australian citizens |
|
|
Jean Monet Scholarship Programme |
Varies |
Turkish citizens. |
|
|
LIFE Lebanon Scholarship |
Varies |
Candidates must: be Lebanese or of Lebanese descent, be pursuing a degree in the fields of finance, business, STEM, corporate law or liberal arts, be in demonstrable financial need, have and maintain an excellent academic record (at or above 80th percentile), and have drive and ambition to be the next leader in their field. |
|
|
Rotary International Global Grants |
Up to US$30,000 |
Citizens of countries in which there are Rotary Clubs. |
Please note: this list of external scholarships is not exhaustive. We recommend you research whether organisations in your country provide scholarships or loans for those studying an MFin.
While we aim to ensure accuracy, these scholarships are not administered by Cambridge Judge Business School. You must contact the organisations directly for more detailed information.
Loans
The Prodigy Finance Loan Programme is available to help you finance your Master of Finance programme at Cambridge Judge Business School.
The Lendwise Loan Programme is available to help you finance the Master of Finance programme at Cambridge Judge Business School. Once you have been offered a place on the programme you can apply directly for a loan through Lendwise’s website.
The StepEx Future Earnings Agreements Programme is available to help you finance the Master of Finance programme at Cambridge Judge Business School. Once you have been offered a place on the programme you can apply directly for finance through StepEx’s website.
The Future Finance Loan Programme is available to help you finance the Master of Finance programme at Cambridge Judge Business School. Once you have been offered a place on the programme you can apply directly for a loan through Future Finance’s website.
Applicants can submit application online up to six months prior to programme start.
Spark Finance is available to help you finance the Master of Finance programme at Cambridge Judge Business School.
Once you have been offered a place on the programme you can apply directly for finance through Spark Finance’s website.
For information on other loans available to University of Cambridge students, please see the University’s Graduate Admissions website.
- UK Government Postgraduate Loans
- UK Private Graduate Loans (Professional and Career Development Loans)
- Canadian Loans
- US Federal Loans
The University of Cambridge is not a lender and is not recommending, endorsing or in any way connected with the above loan providers or their products. The University is providing this for information without guarantee of accuracy. We recommend that candidates investigate all financing options available to them, including local options.